BP's Rough Third Quarter Still Shows Strong Future for Billions in Offshore, Refining Projects

SUGAR LAND--November 15, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--BP plc (NYSE:BP) (London, England) reported its first quarterly loss in more than three years and a 2.5% dip in oil and gas production, due in part to a two-week disruption to production in the Gulf of Mexico from Hurricane Barry, for third-quarter 2019. Although the energy giant cut its organic capital expenditures for the full year to less than $16 billion, on the lower end of the previously predicted $15 billion to $17 billion, it remains optimistic about its overall outlook. Industrial Info is tracking $31 billion in active global projects from BP, including more than $8 billion in the U.S. alone. Within this article: Details on some of the highest-valued U.S.-based projects from BP, including offshore drilling projects in the Gulf of Mexico and several additions and upgrades at key refineries.